Ivari Life Insurance Review, Quotes 2025: Updated
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Discover the methodologyIvari Life Insurance offers a small but impressive suite of solutions including term life, universal life, and no-medical life insurance plans. It stands out with its universal life insurance, offering up to $10 million in coverage combined with a tax-advantaged savings component. With flexible premium options and up to nine customizable add-ons, it’s a powerful choice for lifelong protection and wealth growth.
But is it the right choice for you? In this Ivari Life Insurance review, we look at what it covers, what it costs, how to cancel, how to file a claim, and more. You can use our free tool below to get personalized Ivari life insurance quotes and compare them with rates from other top providers like Canada Life, Manulife, and more, all in one place.
Ivari Life Insurance Canada: 6 Key Points
- Ivari offers both term and universal life insurance.
- Policyholders can choose from various contract durations:
- 10 years
- 20 years
- 30 years
- Coverage of up to $10 million is available, depending on the chosen policy.
- Ivari provides up to nine additional coverage options as riders.
- Ivari does not offer online quotes through its website.
- But you can get free quotes through our HelloSafe partner link below.
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Ivari Life Insurance Review 2025
Ivari offers universal life insurance, term life insurance, and simplified and guaranteed issue plans. Universal life insurance is Ivari's flagship product, combining lifelong coverage with a tax-advantaged savings component. You can customize your plans with flexible premium options, choosing between level or variable premiums based on your financial situation. This makes it ideal for individuals seeking long-term protection while building a savings fund that can be accessed during life events, such as retirement or emergencies.
Coverage amounts for Ivari universal life insurance range from $50,000 to $10 million, and policies offer added flexibility, such as access to accumulated cash value and surrender options under favourable conditions. Ivari Universal life plans also include nine optional riders, including protections for critical illness, disability, or child coverage, enhancing customization.
For temporary needs, Ivari’s term life insurance plans are available in 10-, 20-, and 30-year terms. The Term 30 plan offers unique SelectOptions, enabling reduced premiums for adjusted coverage or conversion to lifetime coverage without a medical exam. These term plans are suited for short- to medium-term obligations, such as mortgages or young families.
Simplified and guaranteed issue plans cater to those seeking straightforward or accessible coverage. Simplified Issue involves a short health questionnaire, available to those aged 18 to 74 with coverage up to $50,000. Guaranteed Issue guarantees $10,000 in coverage for ages 18 to 69 without health questions and no medical exams, making it ideal for Canadian seniors or those previously denied insurance.
However, Ivari has some drawbacks compared to competitors. Ivari Insurance lacks online quoting tools, making it less convenient than providers like Sun Life and Canada Life Insurance, which offer seamless online experiences. Additionally, Ivari's term life premiums may be higher for larger coverage amounts, and the absence of a standalone universal life option with extensive investment features places it behind providers like Empire Life in this area.
Ivari is best for individuals and families seeking flexible, customizable insurance solutions for long-term needs. Its universal life insurance plan, a wide range of riders, and flexible premium options are key strengths. However, customers prioritizing competitive pricing or advanced online tools may find better alternatives with competitors.
Expert advice
Ivari Insurance stands out for its comprehensive universal life insurance with robust savings and customization features, making it an excellent choice for long-term planners. However, the lack of online tools and slightly higher term premiums compared to some competitors could be a drawback for cost-conscious or tech-savvy clients. Overall, Ivari is a dependable provider for those seeking tailored long-term solutions and flexible premium options.
Pros of Ivari Insurance Canada
- Offers term life and universal life insurance options
- Coverage up to $10,000,000
- No-medical exam life insurance option
- Joint policy for up to 5 people
- Multiple riders for customization also including critical illness, children life insurance, accidental death
Cons of Ivari Insurance Canada
- No whole life insurance options.
- More expensive than some other insurers in the market.
- You cannot get online quotes or buy policies directly through the company website
If you think ivari Insurance could be what you're looking for, you can personalized quotes right here, in a few seconds.
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How much does Ivari life insurance cost?
Non-smokers in good health can expect to pay monthly premiums as listed in the table below for $250,000 of 20-year term life insurance.
| Age | Male | Female |
|---|---|---|
| 20 | $19.20 | $12.88 |
| 25 | $19.44 | $13.37 |
| 30 | $19.93 | $14.09 |
| 35 | $21.38 | $16.52 |
| 40 | $30.62 | $22.84 |
| 45 | $48.36 | $34.51 |
| 50 | $80.92 | $54.43 |
| 55 | $155.95 | $102.30 |
The cost of life insurance, whether purchased with Ivari Insurance or another provider, depends on several factors:
- Your age
- Your gender
- Whether you are a smoker or non-smoker
- The amount of life insurance coverage you wish to purchase
You must therefore get personalized quotes to understand your exact premiums. Compare prices for Ivari Insurance and other providers right here. Use our comparator below and get free personalized quotes from Canada's best life insurance companies in seconds.
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Who owns ivari life insurance?
Ivari, a Canadian life insurance provider established in 1927, was formerly known as Transamerica Life Canada. In 2015, it was acquired by Wilton Re, a company owned by the Canada Pension Plan Investment Board (CPPIB). However, in October 2023, Sagicor Financial Company Ltd., a leading financial services provider in the Caribbean, completed its acquisition of Ivari from Wilton Re. This acquisition marked Sagicor's expansion into the Canadian market, aligning with its growth strategy. Therefore, as of October 2023, Ivari is owned by Sagicor Financial Company Ltd.
What types of life insurance does Ivari offer?
Ivari offers three types of life insurance:
- Ivari Term Life Insurance: Available in 10, 20, or 30-year terms, with fixed and affordable premiums.
- Ivari Universal Life Insurance: Lifetime coverage with a wide range of optional benefits.
- Ivari Simplified Issue and Guaranteed Issue Insurance: Lifetime coverage with no-medical exam approval
Good to know
Ivari life insurance also allows you to add critical illness insurance to your policy.
We've created a table to help you understand the key coverage offered by the various Ivari Life Insurance Canada plans.
| Type | Ivari Term Life Insurance | Ivari Universal Life Insurance | Simplified Issue and Guaranteed Issue Insurance |
|---|---|---|---|
| Duration |
| Lifetime coverage | Lifetime coverage |
| Coverage amount | $50,000 to $10 million | $25,000 to $10 million | $10,000 to $50,000 |
| Plans |
| Universal Life |
|
| Eligibility | 18 to 75 years | 18 to 75 years |
|
| Riders |
|
|
|
| Cash value |
Ivari Term Life Insurance
Ivari offers three distinct term life insurance options: 10-year, 20-year, and 30-year Term with SelectOptions. These policies provide flexibility and protection tailored to different stages of life.
- Term 10: Designed for short-term needs, this policy is available to individuals aged 0 to 70 and renewable every 10 years up to age 80. It’s ideal for those seeking coverage for a limited period, such as paying off a short-term debt.
- Term 20: Suitable for mid-term protection, this policy is available to individuals aged 0 to 60 and renewable every 20 years up to age 80. It’s a great choice for families or individuals planning to retire or settle debts within two decades.
- Term 30 with SelectOptions: Ivari sets itself apart with its 30-year term policy, available for individuals aged 0 to 50. At the end of the 30-year term, the policy renews automatically with level premiums until age 100. Between the 15th and 20th policy years, policyholders can take advantage of unique flexibility options:
- Select30: Lower premiums in exchange for reduced coverage for the remainder of the term.
- SelectLIFE: Includes Select30 benefits along with lifetime final expense coverage.
- SelectVALUE: Access the policy’s cash value by either reducing the coverage or converting to a universal life plan.
Ivari Universal Life Insurance
Ivari universal life insurance is a flexible option for individuals seeking lifelong coverage with an investment component to build cash value. Offering coverage amounts up to $10 million, this policy combines protection and tax-advantaged savings, making it suitable for long-term financial planning.
Key Features:
- Available as single or joint plans with First-to-die or Last-to-die options.
- Coverage up to $10 million
- Wide range of investment options for tax-efficient growth.
- Comprehensive riders are available to customize the policy, such as critical illness, children’s insurance, and accidental death benefits.
The savings component of the policy offers tax advantages and allows you to meet several needs, including:
- Building a legacy for your children
- Protecting your mortgage
- Creating additional retirement income
- Safeguarding your retirement savings in the event of a professional disability or a disability caused by one of 26 designated critical illnesses, including the need for long-term care
- Maximizing the wealth transferred to your heirs in a tax-efficient manner
- Making a donation to the charity of your choice
Whether you want to protect your mortgage, create a legacy, or supplement retirement income, Ivari Universal Life Insurance offers the tools and flexibility to meet your needs while growing your wealth.
You can use our special partner link below to get a free personalized quote from Ivari Life Insurance based on your unique needs.
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Ivari Simplified Issue and Guaranteed Issue Life Insurance
If you're seeking life insurance with a straightforward, hassle-free application process, Ivari Simplified Issue and Guaranteed Issue insurance may be the ideal solution for you. These permanent life insurance products offer lifetime coverage with several advantages:
- Guaranteed fixed premiums: Your premiums stay the same throughout the policy.
- No medical exam required: Skip the lengthy health assessments.
- Quick and easy application: Apply with minimal effort.
- Value-added benefits: Enjoy extra benefits at no additional cost (subject to availability).
Here are the key features of both plans:
- Simplified Issue Life Insurance
- Eligibility: Requires answering five simple health questions.
- Age Range: Available to individuals aged 18–74 (based on issue age).
- Coverage Amount: Offers coverage between $10,000 and $50,000.
- Guaranteed Issue Life Insurance
- Eligibility: No health questions or medical exam required.
- Age Range: Available to individuals aged 18–69 (based on issue age).
- Coverage Amount: Offers a fixed coverage amount of $10,000.
Good to know
For both Simplified Issue and Guaranteed Issue policies, the death benefit is limited in the first two years of the policy. In this period, it provides a return of premiums paid, plus interest.
If you think Ivari Simplified Issue and Guaranteed Issue policies might be right for you, get a free personalized quote using our special partner link here.
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What add-ons are available with Ivari life insurance?
Want to customize your policy? ivari is a great provider of customized policies as has been mentioned in most ivari life insurance reviews on Google. These riders include:
- Critical Illness Protection: Pays a one-time lump sum if the policyholder develops a covered critical illness. The 4-Condition plan covers cancer, heart attack, stroke, and coronary artery bypass. The 25-condition adds 21 illnesses and 5 more for children under 24 years old.
- Level Cost of insurance: Fixes premiums until age 100.
- Payor Waiver of Monthly Deductions: Waives all premiums for an insured child if the policyholder is totally disabled before 65 (coverage will continue until the child is 25.
- Children's insurance Rider: Adds low-cost coverage for a policyholder’s child. Guarantee their ability to purchase coverage should they develop a pre-existing condition.
- Term Riders: Adds an extra layer of temporary insurance to the base policy, providing added protection during the term.
- Waiver of Planned Premiums: Waives all planned premiums up to a predefined amount if the policyholder becomes totally disabled before the age of 65.
- Payor Waiver of Planned Premiums: Waives planned premiums up to a predefined amount for an insured child if the policyholder dies or becomes totally disabled before the age of 65 (coverage will continue until the child turns 25.
- Accidental Death and Dismemberment: Provides an additional benefit in the event of accidental death or dismemberment.
- Waiver of Monthly Deduction: Waives planned premiums if the policyholder becomes totally disabled before the age of 65.
- Payor waiver of premium: Waives all premiums for an insured child if the policyholder becomes totally disabled before the age of 65 (coverage will continue until the child turns 25.
How to get a quote from Ivari Life Insurance?
You can also get a free Ivari life insurance quote at the best rate through our special partner link below. You just need to provide basic information on age, gender, and coverage, and in no time you will receive your quotes and steps for your Ivari life insurance application.
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Alternatively, you can get life insurance rates directly from an ivari advisor. Reach Ivari Insurance by phone at 1-800-846-5970 or email by email to [email protected] to get started. Be prepared to share the following information when speaking with an insurance agent:
- Your date of birth
- Sex
- Smoking status
- Address
- Medical history
- Family medical history
Before zeroing in on an Ivari Life Insurance policy, you must compare the other options in the market. You can use our free tool below to compare Iife insurance quotes from Ivari and other top Canadian insurers like Canada Life, Manulife, and more.
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How to contact ivari customer service?
| Contact method | Details |
|---|---|
| Ivari life insurance phone number for general queries | 1-800-846-5970 (Monday to Friday from 8:00 am to 7:00 pm) |
| Online | Through the My Ivari portal |
| General inquiries | [email protected] |
| Policy-related mailing address | P.O. Box 4241, Station A Toronto, ON M5W 5R3 |
| Social media |
Is there an Ivari Life Insurance calculator?
Before choosing a life insurance policy, ask yourself how much coverage you need. Depending on your age, health, and family situation you might want a $1 million term policy or just $10,000 non-medical life insurance. No two situations are identical.
A life insurance calculator can help you answer this if you’re unsure and ivari has a robust easy-to-use tool called My Insurance View. This can be viewed on its portal and a good way to see if it's what you're looking for before you proceed with your ivari life insurance application.
HelloSafe’s life insurance calculator provides an easy-to-use interface and gives you an idea of exactly how much coverage you need. This provides a more all-round view of how much coverage you should exactly go for considering your debts, investments, monthly expenditures, your children's education, and more.
Once you've done that, you could use our comparator below and get quick and free life insurance quotes to help you pick the best policy for you.
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How to cancel ivari life insurance?
For an ivari life insurance policy without cash value, you may cancel it by sending a letter of direction naming the policy number, policy owner, and insured. Send it through ivari’s online “Send Documents” service or by mailing it to: P.O. Box 4241, Station A Toronto, ON M5W 5R3.
If your policy has cash value, you may cancel it by completing the Policy Service Application form below and sending it through ivari’s online “Send Documents” service or by mailing it to: P.O. Box 4241, Station A Toronto, ON M5W 5R3. You can use the following form for cancelling coverage, making a withdrawal, taking a loan against your policy, and more.
Watch out!
Cancelling Ivari life insurance policy or any other life plan can have tax implications and will end your coverage. Speak with an advisor and weigh your choices carefully before cancelling any policy.
How to file an Ivari life insurance claim?
Here’s how to file a claim with Ivari Life Insurance:
- By phone: Call 1-800-846-5970
- By email: Send your claim to [email protected]
For Life Insurance Claims, provide the following details:
- Policy number
- Insured’s full name (first and last)
- Cause of death (accident or illness)
- Date of birth
- Country of death (this is a critical detail)
How are Ivari life insurance reviews from customers?
Ivari Life Insurance has limited customer reviews online.Platforms like InsurEye show no available reviews for Ivari's life insurance products.However, some feedback exists for Transamerica Life Canada, Ivari's predecessor, with an average rating of 2.1 out of 5 stars based on four reviews.
These reviews highlight issues such as policy cancellations due to missed payments and challenges in communication.It's important to note that these experiences may not reflect Ivari's current services.
Overall, Ivari Insurance has mixed reviews from customers, with some highlighting positive aspects such as flexible product options and knowledgeable advisors. Customers appreciate Ivari's universal life insurance plans for their combination of lifetime coverage and tax-advantaged savings opportunities. However, there are occasional concerns about communication and claims processing delays.
FAQs on Ivari Insurance
Yes, Ivari Insurance is a legitimate and trusted life insurance provider in Canada. It has been serving customers for nearly a century and is backed by the Canada Pension Plan Investment Board, ensuring financial stability. With a range of products, including universal, term, and guaranteed issue life insurance, Ivari meets various customer needs while maintaining an A+ financial rating from AM Best.
To contact Ivari Life Insurance, call 1-800-846-5970 (Monday to Friday, 8:00 a.m. to 7:00 p.m. EST) or email [email protected] for general inquiries. For claims, email [email protected]. You can also mail their head office at 500-5000 Yonge Street, Toronto, ON, M2N 7J8, Canada.
Ivari is owned by Wilton Re, a reinsurance company specializing in life insurance and annuities. Wilton Re itself is owned by the Canada Pension Plan Investment Board (CPPIB), one of the largest and most reputable pension fund managers globally. This ownership ensures Ivari's financial stability and credibility in the Canadian life insurance market.
